Question
Mr. P invested Rs. β2xβ in scheme βAβ offering
simple interest of 20% p.a. and reinvested the interest earned from scheme βAβ at the end of 4 years in scheme βBβ offering compound interest of 20% p.a. compounded annually. If total amount received from scheme βBβ after 2 years is Rs. 1008, then find the value of β8xβ.Solution
According to question; 1.44 Γ {0.2 Γ 4 Γ 2x} = 1008 Or, {0.20 Γ 4 Γ 2x} = 700 Or, x = 437.5 So, 8x = 8 Γ 437.5 = 3500
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